January 30, 2023
New Delhi, India
BLS E-Services Limited has officially launched its Initial Public Offering (IPO), and investors are buzzing with anticipation. Here’s a comprehensive overview of the IPO, including the Grey Market Premium (GMP), subscription status, and other key details.
Grey Market Premium (GMP):
Shares of BLS E-Services are currently trading at a premium of ₹146 per equity share in the grey market, indicating strong early investor interest and a potential multibagger return.
IPO Price Band:
The IPO price band is set at ₹129 to ₹135 per equity share. This range offers potential investors flexibility in their bidding strategy.
Subscription Status:
The book build issue received overwhelming response, with full subscription within the first hour of opening. As of 10:57 AM on day one, the overall subscription stands at 1.86 times. The retail portion is subscribed 7.95 times, while the NII portion is at 2.59 times.
Important IPO Details:
- Size of the IPO: BLS E-Services aims to raise ₹310.91 crore through the issuance of fresh shares.
- Lot Size: A bidder can apply in lots, with one lot comprising 108 company shares.
- Closing Date: The IPO bidding window is open until 1st February 2024.
- Allotment Date: Share allocation is expected to be finalized on 2nd February 2024, providing clarity to successful bidders.
- Registrar: KFin Technologies Limited is the official registrar for the book build issue.
Also Read: Qualitek Labs IPO Debuts with 90% Premium, Sets Positive Tone for Investors
Listing Details:
The IPO is proposed for listing on both BSE and NSE. Following the T+3 listing rule, the public issue is likely to debut on the secondary market on 6th February 2024.
Investor Dilemma: Apply or Not?
With a strong GMP, oversubscription in retail and NII categories, and the potential for solid returns, investors face the decision of whether to apply for the BLS E-Services IPO. Thoroughly evaluating risk tolerance and investment goals is crucial before making this decision.
Conclusion:
BLS E-Services IPO seems to have garnered significant attention from investors, evident from the robust subscription and grey market premium. As the IPO progresses, potential investors must carefully weigh the risks and rewards to make informed investment decisions.
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